The European Central Bank has asked banks to submit plans to address AI and cybersecurity threats.
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The Reserve Bank of India reiterated its support for a "curb-prone ban" strategy on crypto assets, recommending that banks refrain from holding or trading crypto assets.
According to Mars Finance, on July 3, the Reserve Bank of India (RBI), in a document submitted to the Parliament's Standing Committee on Finance, reiterated its support for a "containment-oriented and prohibition-oriented" regulatory strategy for crypto assets, arguing that "prohibition" remains one of the policy options recognized by international regulatory frameworks. The RBI recommends that banks and other regulated financial institutions refrain from holding, trading, or providing exposure to crypto assets and privately issued stablecoins to avoid potential contagion risks to the financial system. The RBI stated that imposing traditional financial regulations on crypto assets could mislead the market, grant "legitimacy" to speculative assets lacking real economic value, and create a false sense of security for users. The RBI also warned that the large-scale adoption of stablecoins could weaken India's monetary sovereignty, weaken the transmission mechanism of monetary policy, fragment the payment system, and pose risks to financial stability. Therefore, it recommends prioritizing the development of sovereign digital payment infrastructure such as central bank digital currencies (CBDCs). Furthermore, the RBI questioned the ranking of India as having the highest crypto adoption rate globally, arguing that data based on private blockchain analytics firms has methodological flaws. The RBI pointed out that India currently has 54 FIU-registered crypto service providers, and approximately 39.3 million KYC-verified users holding crypto assets worth approximately 20.437 billion rupees. It stressed the need for a clear distinction between speculative crypto assets and the tokenization of real-world assets (RWAs) such as government bonds and corporate bonds to avoid hindering innovation in financial asset tokenization.
ECB, EU cenbanks seek changes in MiCA’s minimum bank deposit for stablecoins
The ECB and EU central banks want to replace MiCA’s stablecoin bank-deposit requirements with liquidity thresholds, warning that sudden withdrawals could strain lenders.
Europe’s Central Bank Prepares to Invest Own Funds in Tokenized Securities
The central bank plans to buy euro-denominated public-sector debt and settle the transactions through its new Pontes service.
Russia's largest bank, Sberbank, plans to launch compliant crypto wallets and custody services this year.
PANews reported on July 6th that, according to CoinDesk, Russia's largest bank, Sberbank, plans to launch a cryptocurrency wallet and digital custody vault by December, provided the "Digital Currency and Digital Rights Law" officially takes effect in September. The service will be integrated into the "Sberbank Online" and "SberInvestments" apps, providing customers with access to authorized crypto assets within the banking system. The new law will establish a licensing framework for crypto trading, custody, fiat currency exchange, and cross-border settlement, with a trading limit of approximately 300,000 rubles (about $3,800) per year for non-accredited investors. Other large banks, including VTB and T-Bank, are also preparing related digital custody services.
German banks are accelerating the rollout of crypto trading services, with related services expected to launch in the coming months.
According to a Bloomberg report, the German financial system is experiencing rapid expansion of crypto asset services. Several local financial institutions, including cooperative banks and savings banks, are planning to launch cryptocurrency trading services for retail customers, allowing users to buy and sell virtual assets directly without going through third-party trading platforms. It is understood that German banks, which have long served local households and businesses, are gradually embedding crypto trading functionality into their existing retail banking systems. These services are expected to be launched in the coming months. This trend demonstrates that the traditional German banking system is accelerating its embrace of the digital asset market within a compliant framework, which may further promote the penetration of cryptocurrencies into the mainstream European financial system.
The leader of the UK's Reform Party has been accused of improperly lobbying the central bank against a digital pound, possibly related to undeclared grants.
According to Foresight News , Decrypt reports that Labour MP Phil Brickell has filed a whistleblower complaint with the Parliamentary Standards Commissioner regarding Reform Party leader Nigel Farage's alleged lobbying of the Bank of England. The complaint alleges that Farage's push for crypto policies could benefit his largest donor, Christopher Harborne, a major investor in Tether. The core of the complaint involves a private meeting last September, during which Farage allegedly urged Governor Andrew Bailey to abandon plans to issue a central bank digital currency, "Britcoin." The Bank of England subsequently withdrew its proposed £20,000 cap on individual stablecoin holdings. The investigation focuses on whether there is a connection between this grant and Farage's lobbying activities.